The threaten, the opportunity. India draws the whole world's attention now. India government's next five year has an ambitious target of 9% average annual growth,which is almost close to China's. Will it be the second China, or even the US in next century?
Several days ago, the indian firm Tata Steel has won the battle to take over Anglo-Dutch steelmaker Coru.As the news spread, the world's business men and investors queue up to visit india and plan for investing there. The indian commercial secretary describe this as a truely show-off of india's economic power.
Even the economist is still arguing that india's ecomomic is somehow like a kind of bubble, what can't be denied is the india market is rising fast.The india's economic reforms of the early 1990s helped the firms and factories to become more competitive and productive, and therefore boosted india.This county now is not a bend-over elephant any more.
Not like western scholars,Asian academician take good views of India's booming.The cheap labour force and high tech computer science in india are the key factors which attract western Companies keep on moving their software design lab to India. As the asian academician say,india has groups of well-educated, influence English-speaking young men whom the international business people will lavish money on.
No wonder an increasing number of india scholars,economists and policymakers are in deep belief that their country is heading for a new era. The fast growing GDP make them very confident to say india's economy will increasing.
However, the problem is still significant. The infrastructure in india, compared with China, are still in limit growth.A report from BBC said india may lose out in the future if the public services, espacially the popularization of education couldn't adapt to the pace of economy's growth. And this is actually the basic element in a country's developing. And the slowness in india's policymaking will make the infrastructure problem even worse.
India still has a long way to go.How to overcome the difficulties in the reforms will be the country's biggest question in the next decade.